Reebok 2014 Annual Report Download - page 46

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2014
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01.7
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Our Share
To Our Shareholders
adidas Group
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2014 Annual Report
Dividend proposal of € 1.50 per share
Given their confidence in the strength of the Group’s financial position and long-term aspirations, the
adidas AG Executive and Supervisory Boards intend to again recommend paying a dividend of € 1.50
to shareholders at the Annual General Meeting (AGM) on May 7, 2015 (2013: € 1.50). Subject to the
meeting’s approval, the dividend will be paid on May 8, 2015. The total payout of € 306 million (2013:
€ 314 million) reflects a payout ratio of 53.9% of net income attributable to shareholders, excluding
goodwill impairment losses, versus 37.4% in the prior year. While this is above our target ratio of
between 20% and 40% of net income attributable to shareholders, it reflects our commitment to a
reliable dividend policy aimed towards continuity.
Shareholder return programme initiated
On October 1, 2014, adidas AG announced a multi-year shareholder return programme of up to
€ 1.5 billion in total to be completed by December 31, 2017. The shareholder return programme will
be executed primarily by buying back shares via the stock exchange under the authorisation given by
the Annual General Meeting on May 8, 2014, for the period through to May 7, 2019. The authorisation
covers the repurchase of up to 10% of the company’s share capital on the stock exchange, currently
representing 20,921,618 shares, subject to advantageous market conditions.
On December 15, 2014, adidas AG announced the completion of a first tranche of the share buyback
programme. The total number of shares which adidas AG bought back within the framework of
the first tranche of the share buyback programme in the period from November 7, 2014 up to and
including December 12, 2014 amounted to 4,889,142 shares. This corresponds to 2.34% of the
company’s nominal capital. The average purchase price per share was € 61.36. A total price of
€ 299,999,987 (excluding incidental purchasing costs) was paid to buy back the shares.
Strong international investor base
Based on our share register, we estimate that adidas AG currently has around 95,000 shareholders.
In our latest ownership analysis conducted in February 2015, we identified around 93% of our shares
outstanding. Institutional investors represent the largest investor group, holding 77% of shares
outstanding. Undisclosed holdings, which also include private investors, account for 20%. Current
members of the adidas Group Executive and Supervisory Boards hold less than 1% in total. Lastly,
following the completion of the first tranche of our share buyback programme, adidas AG currently
holds 2% of the company’s shares as treasury shares.
see Table 03
see Diagram 05
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Shareholder structure by investor group 1)
1) As of February 2015.
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Shareholder structure by region 1)
1) As of February 2015.
1
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77% Institutional investors
2
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20% Other, undisclosed holdings
3
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2% Treasury shares
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<1% Members of the adidas
Group Executive and
Supervisory Boards
1
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34% North America
2
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23% Rest of the world
3
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16% United Kingdom
4
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10% Germany
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10% Switzerland
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7% France
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